Simple and Compound Interest

Front

Formula for calculating simple interest?

Back

Front

Formula for calculating compound interest?

Back

Front

A stands for...

Back

total money in an account

Front

I stands for...

Back

interest earned

Front

If the interest rate is 6.7%, what should you plug in for r? Options: 6.7, 0.67, .067, 670

Back

.067

Front

Calculate the interest earned using I = Prt with an initial deposit of $2500, rate of 5.6%, for how many years?

Back

13

Front

Calculate interest using I = Prt. What value should be used for t if the interest is for 6 months?

Back

6/12

Front

Initial deposit earning 6% interest for 5 years, using I = Prt. What is P?

Back

5000

Front

To find the initial deposit using I = Prt, you are solving for which variable?

Back

P

Front

Using the compound savings formula, solve for the interest earned.

Back

A - P